A global pandemic, racial strife, political upheaval — and a rising stock market amid the chaos. While it sounds a lot like 2020 it also has echoes all the way from 1968.
"There are many valid reasons to be bearish on risk assets like stocks or corporate debt just now, but history shows markets look through many sorts of tumultuous events and have done so for decades," said Nicholas Colas, co-founder of DataTrek Research. "That may seem counterintuitive, and perhaps not even 'fair,' but it's absolutely true."The Rev. Martin Luther King and Robert F. Kennedy were both assassinated. North Vietnam launched the Tet Offensive.
The end result for the market the year: After a 9% drop for the S&P 500 from January to March, the market rallied 24% and ended with a price gain of 7.6%. Thus far in 2020, the index is still down about 5.7% year to date, but a 36% rally off the March low has investors thinking that another headline-defying result could be on the way.
To be sure, with things this tumultuous, there's always the threat the things could go south quickly.
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